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Senior Compensation Analyst

Company: Memorial Health
Location: Springfield
Posted on: January 16, 2022

Job Description:

Overview
Performs the more advanced analyses and consultation in support of Memorial Health's compensation program and associated practices. Guides leadership in the development of job descriptions according to best practices. Analyzes jobs and conducts market pricing / job evaluation to ensure market competitiveness. Consults with others and recommends salary adjustments (as necessary) to ensure that employees are paid competitively and equitably. Participates in various compensation surveys conducted by external vendors. Administers the performance appraisal, merit pay and incentive compensation programs.

Qualifications
Education:

  • Education equivalent to a bachelor's degree in human resources, business or finance, or related discipline isrequired (or the equivalent in related work experience).Licensure/Certification/Registry:
    • Has attained (or will be actively pursuing) the Certified Compensation Professional (CCP) designation or comparable compensation designation is required.
    • Professional human resources certification(s), i.e., PHR, SPHR, SHRM-CP, SHRM-SCP is preferred.
    • Master's degree in business administration, human resources, or finance or comparable is preferred.Experience:
      • Four or more years' professional-level work experience in human resources, finance or related field is required.
      • Four or more years' experience as a Compensation Analyst is strongly preferred, ideally in a major health care system.Other Knowledge/Skills/Abilities:
        Required:
        • Possesses an in-depth knowledge of market pricing, job evaluation methodologies and base/incentive compensation administration.
        • Thorough working knowledge of compensation theories, practices & applicable federal/state labor laws.
        • An intermediate-to-advanced level proficiency with Microsoft Word, Power Point, Excel, HR Information Systems, and compensation database systems (ideally Market Pay).
        • Excellent accuracy & attention to detail when working with data/information.
        • Demonstrated ability to balance the needs of the organization while flexing to changing work priorities.
        • Ability to work with leadership on confidential and time-sensitive matters.
        • Excellent oral and written communication, with the ability to be persuasive and deal with potential conflict.
        • Ability to serve as a technical expert and trainer on compensation matters.
        • Must be able to maintain confidential information safe and secure at all times.
        • May be required to work beyond regular business hours to meet MHS needs.Preferred:
          • Experience with incentive compensation programs within a health care system.
          • Sound working knowledge of HR Lawson, crystal report writing and MS add-ins.Responsibilities
            • Evaluates jobs, reviews qualifications and licensure requirements for compliance with legal guidelines, and recommends range placement based on market data and internal equity. Assigns FLSA exemption status and corresponding incentive eligibility based on approved criteria. Communicates approved pay grades to leaders. Conducts audits and analyzes positions system-wide to maintain pay grade equity.
            • Provides advanced level consultation to leaders and other applicable organizational units regarding compensation policies and procedures, guidelines, salary ranges, and other related issues. Provides guidance and expertise regarding the use of bonus codes/pay practices. Collaborates with others to develop and implement workable, cost-effective options & solutions that meet organizational needs.
            • Leads and coordinates the annual market review process. Analyzes the competitiveness of Memorial Health's salary structures and salaries. Researches and evaluates market conditions and recommends adjustments to structures, employees' rates, pay practices and incentive plans.
            • Guides leaders on the development of job descriptions and design of job families according to best practices. Audits and monitors job descriptions to ensure they are up-to-date in accordance with company policy and/or regulatory requirements. May serve as an author/editor of job descriptions to ensure conformity and consistency.
            • Reviews (and may modify) Personnel Change Request Forms (PCRs) and performance appraisal information for accuracy and completeness and resolves problems related to same directly with leadership, HR or others.
            • Employs the compensation database for analyses and market pricing of jobs. Maintains the database as up-to-date and accurate, executing archival procedures as necessary for preservation of data.
            • Serves as a project manager for the integration, standardization, and administration of Memorial Health's affiliate compensation programs and practices across the health care system. Leads (or participates) in other cross-functional projects, where broad compensation insight and compensation expertise is needed.
            • Serves as a role model and subject matter expert for MHS' compensation function. Provides technical guidance, consultation and training to lesser-experienced compensation analysts and other staff.
            • Advises leadership on merit increase administration as part of the performance appraisal tools. As needed, revises performance appraisal templates and advises on their administration.
            • Partners with other HR members to accomplish deliverables as appropriate. Serves on (or may lead) committees, task forces, and teams as deemed valuable by the organization.
            • Leads the administration of the Success Sharing Plan (SSP) and Leader (LEDR) incentive plans and serves as a subject matter expert on such plans, advising leaders on all elements and administration.
            • Studies market influences and recommends Memorial Health's annual merit increase budget. Designs options for the annual merit increase matrix and conducts analyses to determine organizational impact and cost.
            • Creates deliverables relative to the organization's compensation program, applicable policies and pay practices. Assists in the development of compensation communication strategies and tactics.
            • Works directly with senior executive leadership in the administration of the annual executive compensation incentives, merit increases, and performance appraisal processes.
            • Leads the identification and documentation of work processes with the goal of creating operational efficiencies and/or cost savings opportunities.
            • Participates in a variety of salary surveys; analyzes data to determine industry trends and potential impact to the organization's salary structures, merit increase budget and employees' pay levels. Recommends best practices for using survey scopes, weighting, premiums/discounts and other data elements.
            • Conducts periodic analyses/audits to ensure compliance with policy, regulations and Joint Commission standards specific to compensation.
            • Communicates and guides the work of external consultants regarding compensation deliverables.
            • Contributes to the creation and delivery of compensation training, intranet content, communications and other similar material. Delivers training or other presentations as required or requested.
            • Conveys and promotes the organization's HR philosophies and best practices, particularly those related to compensation and performance management.
            • Provides input into the creation and feasibility of department goals (or sub-goals) and executes his/her assigned goals under the guidance of leadership.
            • Performs other related work as required or requested.
              The intent of this job description is to provide a representative summary of the major duties and responsibilities performed by incumbents of this job. Incumbents may be requested to perform tasks other than those specifically presented in this description.

Keywords: Memorial Health, Springfield , Senior Compensation Analyst, Accounting, Auditing , Springfield, Illinois

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